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211: Turning Their Basement Into a $4,500/Month Money Making Machine w/Simon Murillo & Kristina Vaio

211: Turning Their Basement Into a $4,500/Month Money Making Machine w/Simon Murillo & Kristina Vaio

FromReal Estate Rookie


211: Turning Their Basement Into a $4,500/Month Money Making Machine w/Simon Murillo & Kristina Vaio

FromReal Estate Rookie

ratings:
Length:
70 minutes
Released:
Aug 24, 2022
Format:
Podcast episode

Description

While constantly hearing success stories can be encouraging, it can also start to seem unattainable when you don’t know where to start. How did all these successful investors get to where they wanted to be? And if they can do it, why can’t you? Today’s guests, Simon Murillo and Kristina Vaio adjusted their mindset from “why them?” to “why not us?,” which resulted in some serious short-term rental success. It took a while for Simon and Kristina to become cohesive in their real estate partnership. Simon has been interested in house hacking since 2018, but Kristina couldn’t envision sharing her home with strangers. For his first investment, Simon wanted to invest long-distance in his hometown, but Kristina had reservations about investing in a property she couldn’t physically manage. Despite their opposing views on what their first investment would look like, through a lot of communication, education, trust, and compromise, they found an investment they agreed on—their basement.With the help of a rockstar real estate agent, they were able to close on a house in December of 2021. It took a few months of blood, sweat, and tears to set up their basement rental, but within just thirty minutes of posting their short-term rental listing, they got their first booking! Now, they’re averaging about $4,500 each month and are looking for their next home to house hack. They plan on doing this at least two or three times until they’re financially free in their forever home—and you can do it too!In This Episode We CoverConvincing a skeptical partner and how to find compromise through mutual goalsHow to ease into investing through small steps and self-educationBuilding a team that can help you with your vision—from investor-friendly real estate agents to reliable contractorsThe benefits of going to investor meetups and being surrounded by similar people with similar goalsManaging your short-term rental while balancing your full-time W-2Increasing the value of your property through unique upgrades and renovationsAnd So Much More!Links from the ShowAshley's InstagramTony's InstagramBiggerPocketsReal Estate Rookie PodcastBiggerPockets ForumsAlpha Geek CapitalReal Estate Rookie BootcampAirbnbSarah Robinson's InstagramRedfinZillowFacebook GroupsNextdoorMLSBiggerPockets Agents FinderHospitableReal Estate Rookie Facebook Group Connect with Simon and Kristina:Simon's InstagramSimon's BiggerPockets ProfileKristina's InstagramCheck out the full show notes here: https://biggerpockets.com/blog/rookie-211Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Aug 24, 2022
Format:
Podcast episode

Titles in the series (100)

Ready to build your real estate empire… but not sure where to begin?Think of us as your personal trainer.From detailed breakdowns of real-world deals… to one-on-one coaching sessions and a warm, welcoming community… hosts Ashley Kehr and Tony J Robinson bring on a wide range of guests to tackle the “newbie” questions you've wondered about but might be afraid to ask.Looking to 10X your real estate investing business this year? This show isn’t for you.Looking for your first, second, or third deal -- or envisioning a more modest portfolio? Step right up. Every Wednesday, we’ll arm you with the tips, tools, and roadmaps you'll need as you embark on your journey toward financial freedom.